EUR/USD failed to close below the 21-DMA – still a key support level at $1.3505 but bulls are currently testing the 5-DMA at $1.3547, initial res. Daily studies still trend lower but 10-day momentum has yet to cross into negative territory while slow stochastic slowed its descent, bears may attempt a retest of 21-DMA and Oct 9 low at $1.3505 and $1.3486, respectively. Failure at these levels could send bulls higher to test the new Oct 3 res line at $1.3584.
R 4: $1.3646 High Oct 3
R 3: $1.3607 High Oct 8
R 2: $1.3584 Resistance line from Oct 3
R 1: $1.3547 5-day moving average
Latest price: $1.3536
S 1: $1.3518 Hourly low & 23.6% of $1.3105-1.3646
S 2: $1.3505 21-day moving average
S 3: $1.3486 Low Oct 9
S 4: $1.3462 Low Sept 25
GBP/USD holds around 38.2% of $1.5429-1.6260, now initial suppt at $1.5943, last two sessions tested below here but closed above despite bearish dly studies. Cable found support from 23.6% of $1.4814-1.6260, key suppt at $1.5919, now joined by Oct 10 low at $1.5914. Wkly studies suggest a reversal lower from overbought levels, bears require to break and close below these key suppt levels while bulls aim to retest channel top at $1.6155.
R 4: $1.6100 High Oct 7
R 3: $1.6064 23.6% of $1.5429-1.6260
R 2: $1.6049 21-day moving average
R 1: $1.6016 5-day moving average
Latest price: $1.5983
S 1: $1.5943 38.2% of $1.5429-1.6260
S 2: $1.5914/19 Low Oct 10, 23.6% of $1.4814-1.6260
S 3: $1.5902 Channel base from Jul 3
S 4: $1.5845/52 50.0% of $1.5429-1.6260, Daily Bollinger band base
USD/JPY now breaking into dly Ichimoku cloud after an upside breakout of falling channel since Sept 11 – breakout targets a measured move to Y100.05, just above mthly Ichimoku top at Y100.04. However, ahead of here res is the 100-DMA and 50.0% of Y100.61-96.57 – initial res at Y98.56/59. Dly studies are turning bullish and break above initial res targets dly cloud top at Y98.67, however mthly studies are bearish adding caution to bulls.
R 4: Y99.19 Former Aug support line
R 3: Y99.07 61.8% of Y100.61-96.57
R 2: Y98.67 Daily Ichimoku cloud top
R 1: Y98.56/59 100-DMA, 50.0% of Y100.61-96.57
Latest price: Y98.37
S 1: Y97.92 Hourly low
S 2: Y97.73 Falling channel top
S 3: Y97.65 Daily Tenkan
S 4: Y97.49/52 Oct 4 high, Former 23.6% of Y100.61-96.57
EUR/JPY bursts through resistance and sends dly studies spiking higher from near oversold, bulls already testing Fibonacci levels of the move from Y134.95 to Y131.15 – initial resistance is the 61.8% at Y133.50, above here is the 76.4% at 134.05. A break above these levels likely challenges dly Bolli top at Y134.32 then Sept 19 reversal high at Y134.95 which is highest level since Nov 2009, however, mthly studies remain bearish limiting any upside moves
R 4: Y134.32/38 Daily Bollinger band top, Jan 2010 reversal high
R 3: Y134.05 76.4% of Y134.95-131.15
R 2: Y133.80 May 22 reversal high
R 1: Y133.45/50 Hourly high, 61.8% of Y134.95-131.15
Latest price: Y133.15
S 1: Y132.43 Daily Kijun line
S 2: Y132.32 Daily Tenkan line
S 3: Y132.17 Resistance line from Sept 19
S 4: Y131.43 55-day moving average
